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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Australian Commodity Traders Exchange
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